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Las Vegas-based Shuffle Master, Inc. (NASDAQ: SHFL), through
its subsidiaries, engages in the development, manufacture, sale,
and marketing of technology and entertainment-based products
for the gaming industry.
On February 27, SHFL stock has declined
precipitously after the
company disclosed preliminary results for the quarter ended
January 31, 2007. The Company disclosed
disappointing results
that were attributed in part to expenses related to the Company's acquisition of
Stargame, in February,
2006. This was very troubling to many Shuffle Master shareholders
as the Company was previously making positive statements about the impact of the acquisition with
Stargame. However, for the
quarter and year ended October 31, 2006, the Company wrote off certain inventory acquired in the acquisition, which negatively
affected earnings.
It appears that investors who purchased stock between
February 1, 2006 and February 6, 2007, may be affected.
Disclosure by Globalstar, Inc. (NASDAQ: GSAT) is Suspect
Globalstar, Inc. (NASDAQ: GSAT) offers satellite communications
services. It provides mobile and fixed voice and data services,
asset tracking and monitoring services, high-speed Internet
access, video and audio broadcasting, and remote file transfer
and virtual private networking services.
The Company’s stock tanked approximately 25% after the Company disclosed that many of its satellites are experiencing an anomaly resulting in degraded performance of the amplifiers for satellite communications antenna. The Company concluded that the rate of degradation of the amplifiers has accelerated and, unless remedied
by 2008, the Company will not be able to provide service. Ouch.
More troubling, the Company also disclosed that, prior to the IPO, it had learned that its satellites showed some signs of aging and degraded performance of some components. However, the
prospectus did not disclose this fact.
Investors who purchased Globalstar between November 2, 2006 and February 6, 2007, are affected.
We are investigating the two situations discussed above and if you are an affected investor in any of these cases or the other cases listed below under investigation, you may wish to contact us at
info@securitiesleuth.com
or 877 511 4717.
Other cases under investigation are:
Active Power, Inc. (NASDAQ: ACPW)
Coast Financial Holdings, Inc. (NASDAQ: CFHI)
CTS Corporation (NYSE: CTS)
LECG Corporation NASDAQ: (XPRT)
Nutrisystem (NNASDAQ: NTRI)
Quanta Capital Holdings, Ltd (NASDAQ: QNTA)
Now with respect to securities cases that have recently settled. If you are an affected investor – you purchased any of these stocks during the relevant class period, you may wish to contact the claims administrator to obtain additional information. Remember, if you don’t submit your claim form, you won’t receive your share of any settlement.
Wilbros Group, Inc. (WG)
Class Period: May 6, 2002 to May 16, 2005
Claims Deadline: February 28, 2007
Claims Administrator: Garden City
Krispy Crème Doughnuts (KKD)
Class Period: March 8, 2001 to April 18, 2005
Claims Deadline: March 5, 2007
Claims Administrator: Gilardi
Information regarding other recent settled cases, including the cases listed below can be found at
www.securitiessleuth.com.
Adelphia Communications (ADELQ)
Advanced Neuromodulation Systems, Inc. (ANSI)
Amerigroup Corp. (AGP)
Philip Services Corp. (PHV)
Again you should contact the claims administrator (rather than us). However, if you are an affected investor in any of the companies under
investigation, you many wish to contact us so that you can consider your options.
Likewise, if you happen to be aware of corporate restatements or other financial fraud -- especially if you're a victim -- you're encouraged to contribute to the Sleuth by giving your own tip-offs at www.securitiessleuth.com
or by e-mailing info@securitiessleuth.com.
You can also call Mark McNair at 877-511-4717. If you have a friend or colleague you think would benefit from The Sleuth, please pass along this issue and ask them to sign up at
www.cartville.com/app/join.asp?MerchantID=47994.
Warmest regards,
Mark McNair
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